Official August factory PMI beats expectations

Source:Reuters-Global Times Published: 2017/8/31 22:18:40

Growth in China's manufacturing sector unexpectedly accelerated in August, defying expectations that the Chinese economy would start to cool as borrowing costs rise and regulators clamp down on riskier lending.

The official Purchasing Managers' Index (PMI) released on Thursday stood at 51.7 in August, the China Logistics Information Center said on its website. That was up from the previous month's 51.4 and well above the 50-point mark that separates growth from contraction on a monthly basis.

But softer July data reinforced views that growth will slow slightly in the second half due to higher financing costs, regulatory clampdowns and signs of moderation in the housing market.


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